Bhilwara Spinners returns to profit with Rs 4.38 crore H1 gain

Bhilwara Spinners Limited reported net profit of Rs 4.38 crore for the six months ended 30 September 2026, reversing a Rs 2.25 crore loss a year earlier, while the September 2026 quarter delivered Rs 2.47 crore of profit. Profit before tax for the first half was Rs 5.49 crore, against a Rs 1.38 crore pre-tax loss in the prior-year period.

How did Bhilwara Spinners return to first-half profit?

Bhilwara Spinners returned to profit by reporting Rs 4.38 crore of net profit for the six months ended 30 September 2026, compared with a Rs 2.25 crore net loss in the corresponding six months of 2025. Profit before tax was Rs 5.49 crore, reversing a Rs 1.38 crore loss before tax in the earlier first half.

The first-half outcome included net profit of Rs 1.91 crore in the quarter ended 30 June 2026 and Rs 2.47 crore in the quarter ended 30 September 2026. Earnings per share, or EPS, for the six months were Rs 4.83, compared with a loss per share of Rs 2.49 for the six months ended 30 September 2025.

The September 2026 quarter did not report an exceptional item, whereas the September 2025 quarter included an exceptional item of Rs 63.11 lakh. In the earlier quarter, Bhilwara Spinners had a Rs 41.38 lakh loss from operations before exceptional items, which became profit before tax of Rs 21.73 lakh after that item.

The board approved the unaudited standalone results on 4 November 2026. The statutory auditor, CLB & Associates, said its limited review had not identified anything causing it to believe that the results had not made the disclosures required under the Securities and Exchange Board of India listing regulations.

What happened to Bhilwara Spinners' September-quarter revenue and profit?

Bhilwara Spinners recorded revenue from operations of Rs 40.42 crore for the quarter ended 30 September 2026, down from Rs 42.51 crore in the quarter ended 30 September 2025, while net profit changed to Rs 2.47 crore from a Rs 11.56 lakh loss. Revenue was also above the Rs 33.84 crore recorded in the immediately preceding June 2026 quarter.

Profit before tax increased to Rs 3.16 crore in the September 2026 quarter from Rs 2.33 crore in the June 2026 quarter. Tax expense was Rs 69.47 lakh in September and Rs 41.96 lakh in June, resulting in quarterly net profit of Rs 2.47 crore and Rs 1.91 crore, respectively.

The improvement in the September quarter occurred despite lower year-on-year revenue from operations of Rs 2.09 crore. The filing reports profit from operations before tax and exceptional items of Rs 3.16 crore for September 2026, compared with a Rs 41.38 lakh loss on that measure in September 2025.

Bhilwara Spinners classifies its activity as a single primary business segment, so the results do not separate revenue or profit by fabric category, customer group or geography. The interim statements were prepared under Indian Accounting Standard 34, or Ind AS 34, for the quarter and six months ended 30 September 2026.

What changed in Bhilwara Spinners' financial position?

Bhilwara Spinners' total assets rose to Rs 176.12 crore at 30 September 2026 from Rs 159.47 crore at 31 March 2026. Total equity increased to Rs 54.59 crore from Rs 50.22 crore, while equity share capital stayed at Rs 9.05 crore on both dates.

Property, plant and equipment were Rs 106.55 crore at 30 September 2026, compared with Rs 106.29 crore at 31 March 2026. Capital work in progress was Rs 92 lakh at the half-year date, while deferred tax assets were Rs 1.08 crore, compared with Rs 58.02 lakh at the March year-end.

Trade receivables increased to Rs 25.65 crore from Rs 16.97 crore over the six months, and inventories rose to Rs 21.59 crore from Rs 19.39 crore. Cash and cash equivalents were Rs 4.89 lakh at 30 September 2026, compared with Rs 4.09 lakh at 31 March 2026.

Total non-current liabilities were Rs 77.95 crore at 30 September 2026, compared with Rs 73.79 crore at 31 March 2026. Total current liabilities increased to Rs 43.57 crore from Rs 35.46 crore, matching the balance sheet totals of Rs 176.12 crore for assets and for equity and liabilities.

What expansion is Bhilwara Spinners planning for April 2027?

Bhilwara Spinners plans an Rs 41.82 crore manufacturing expansion that will add 42.17 lakh metres of capacity, with commercial production expected to begin in April 2027. The board approved the plan on 4 November 2026, the same date it approved the unaudited results for the half year ended 30 September 2026.

The project comprises one additional Indigo Dyeing Range line, 34 Air Jet Looms in addition to the existing 60 looms, and a solar power project of 1,300 kilovolt-amperes, or 1.3 megawatts. The company disclosed existing capacity of 104.55 lakh metres and capacity utilisation of 80%.

On completion, capacity is expected to rise to 146.72 lakh metres from 104.55 lakh metres. Bhilwara Spinners said the expansion is intended to meet increasing market demand for denim fabrics, improve manufacturing capability and operational efficiency, and serve a wider customer base.

Bhilwara Spinners plans to finance the Rs 41.82 crore project with a Rs 31 crore term loan from State Bank of India and Rs 10.82 crore from internal accruals and unsecured loans. The disclosure does not state the construction completion date before the expected April 2027 commercial-production commencement.

Conclusion

Bhilwara Spinners' first-half results show a move from a Rs 2.25 crore loss to Rs 4.38 crore of net profit, supported by profit in both the June and September 2026 quarters. The September quarter combined revenue from operations of Rs 40.42 crore with Rs 2.47 crore of net profit, although revenue was Rs 2.09 crore lower than in the corresponding quarter of 2025.

The next disclosed milestone is April 2027, when Bhilwara Spinners expects commercial production from the Rs 41.82 crore expansion to start. Progress on the 42.17 lakh-metre capacity addition, the Rs 31 crore State Bank of India term loan and utilisation from the disclosed 80% level are the stated items to watch before commissioning.